The Brazilian football icon Ronaldinho could face jail time if he continues to refuse attending a parliamentary hearing on crypto pyramids. The Brazilian Chamber of Deputies’ Financial Pyramids Committee had summoned Ronaldinho on August 24, but he did not appear, leading the lawmakers to issue him a summons. If Ronaldinho fails to attend another hearing, the committee’s president stated that he would request a court-issued warrant to forcefully bring Ronaldinho to the chamber.
Lawmakers are interested in speaking to Ronaldinho about his alleged involvement in the companies 18kRonaldinho and LBLV. They want to understand the football star’s connection to 18kRonaldinho, as they believe the company enticed investors with promises of daily gains on their stakes. It is believed that the firm was originally a watch and jewelry trader, and Ronaldinho’s role may have been ambassadorial.
Lawmakers are particularly interested in whether Ronaldinho granted the company permission to use his name and image in their advertising materials. Ronaldinho’s brother, Roberto de Assis Moreira, attended the hearing on his behalf and informed the lawmakers that Ronaldinho has been cooperating with the investigations into both companies. Moreira mentioned that Ronaldinho had already provided clarification to the nation’s Public Ministry. However, the lawmakers insisted on Ronaldinho’s personal attendance and statement at a committee hearing.
The lawmakers’ attention was drawn to 18kRonaldinho following a complaint filed by investors who claimed to have collectively lost $61 million. Ronaldinho’s lawyers argue that he is also a victim and that he never authorized the company to use his name or image. It should be noted that Ronaldinho launched his own cryptocurrency named RON last year in collaboration with the crypto firm P00LS.
This incident brings attention to Brazilian footballers’ involvement in the crypto world. In the past, unnamed professionals were suspected of investing in a $769 million “crypto pyramid,” while two players initiated legal proceedings after investing in an alleged “crypto scam” based on the advice of a third player’s company.